Market
September 17, U.S. stocks opened broadly higher as investors cheered upbeat semiconductor guidance and a calm bond market. The Dow Jones gained 0.8%, the S&P 500 rose 1.1% and the tech-heavy Nasdaq surged 1.5%, extending the market’s rebound.
Among early movers, Micron Technology rallies 4.2% after lifting its revenue outlook, while Marvell Technology jumps 6.1% on an earnings beat. Intel climbs 4.6% on the launch of new AI-focused server chips, and Advanced Micro Devices rises 3.8% in sympathy. Tesla Motors adds 2.6% as it boosts Model Y production targets, Amazon.com gains 2.3% following an AI-rich Alexa refresh, Alphabet advances 1.6% on Waymo’s expansion approval, NVIDIA increases 2.2% on a major cloud-GPU deal and Apple inches up 0.4% ahead of an expected new iPad Pro reveal.
Momentum trading is evident in leveraged chip and Korea ETFs, with Direxion Daily Semiconductors Bull 3x Shares up 9.6% and Direxion Daily MSCI South Korea Bull 3x Shares up 11.4%. Smaller names also pop, led by Datasea Inc. surging 55.3% and Kaixin Auto Group up 44.7%, while Direxion Daily Semiconductors Bear 3x Shares sinks 9.5% and Reto Eco-solutions tumbles 67.5%.
News
Micron Technology boosts revenue outlook, sparking rally. The memory giant cited stronger AI server demand and improving pricing, lifting shares and providing a tailwind for peers.
Intel launches Gaudi 4 AI accelerator, shares surge. Management says the chip triples performance-per-watt versus prior generation, raising hopes for data-center market share gains.
Marvell Technology beats estimates and raises guidance. Robust cloud and 5G orders drove record margins, prompting analysts to hike price targets and sending the stock sharply higher.
Amazon.com unveils AI-enhanced Alexa lineup. New generative features aim to deepen user engagement and boost ecosystem stickiness, supporting revenue growth expectations.
Alphabet’s Waymo wins Los Angeles robotaxi permit. The approval unlocks a major metropolitan market for autonomous rides and could accelerate Alphabet’s self-driving revenue streams.
Tesla Motors hikes Model Y production on record preorders. The capacity expansion signals sustained EV demand and alleviates concerns about recent delivery slowdowns.
Oracle authorizes $10 billion buyback after cloud beat. Strong AI infrastructure demand lifted quarterly cloud revenue, and the repurchase plan reassured investors about capital returns.
U.S. jobless claims fall to nine-month low. The data highlight labor-market resilience and eased recession fears, supporting the morning equity rally.
SEC delays spot Ethereum ETF decisions. Postponements push potential approvals to later in the quarter, keeping volatility elevated in crypto-linked stocks.
United Auto Workers expand strike to more Detroit plants. The widening stoppage threatens automaker production and supplier chains, keeping pressure on the auto sector.